Zynga Inc (NASDAQ:ZNGA) COO Matthew S. Bromberg sold 41,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $6.11, for a total transaction of $253,565.00. Following the sale, the chief operating officer now owns 707,203 shares of the company’s stock, valued at $4,321,010.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ:ZNGA traded down $0.05 on Friday, reaching $6.18. 701,406 shares of the company’s stock were exchanged, compared to its average volume of 24,529,246. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 309.25, a price-to-earnings-growth ratio of 2.01 and a beta of 0.43. Zynga Inc has a fifty-two week low of $3.32 and a fifty-two week high of $6.31.
Zynga (NASDAQ:ZNGA) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.17). The firm had revenue of $265.00 million for the quarter, compared to the consensus estimate of $255.45 million. Zynga had a negative return on equity of 7.09% and a negative net margin of 12.34%. The firm’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. On average, sell-side analysts predict that Zynga Inc will post 0.14 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on ZNGA shares. BidaskClub downgraded shares of Zynga from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 20th. Goldman Sachs Group started coverage on shares of Zynga in a research note on Wednesday, January 30th. They set a “buy” rating and a $5.30 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Zynga from $5.75 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Benchmark reiterated a “buy” rating and set a $8.00 price objective (up from $5.00) on shares of Zynga in a research note on Thursday, May 2nd. Finally, Stephens boosted their target price on shares of Zynga from $5.25 to $6.50 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Zynga presently has an average rating of “Buy” and an average price target of $6.35.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Zynga by 1.1% during the first quarter. BlackRock Inc. now owns 67,298,044 shares of the company’s stock worth $358,697,000 after acquiring an additional 708,261 shares during the last quarter. Vanguard Group Inc. grew its position in Zynga by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 65,906,089 shares of the company’s stock valued at $264,283,000 after buying an additional 1,082,874 shares in the last quarter. First Trust Advisors LP grew its position in Zynga by 13.0% in the 1st quarter. First Trust Advisors LP now owns 25,671,314 shares of the company’s stock valued at $136,828,000 after buying an additional 2,958,148 shares in the last quarter. FMR LLC grew its position in Zynga by 6,486,449.1% in the 4th quarter. FMR LLC now owns 15,048,794 shares of the company’s stock valued at $59,142,000 after buying an additional 15,048,562 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in Zynga by 228.2% in the 1st quarter. TimesSquare Capital Management LLC now owns 13,256,300 shares of the company’s stock valued at $70,656,000 after buying an additional 9,217,100 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
Zynga Inc develops, markets, and operates social games as live services in the United States and internationally. The company's games are played on mobile platforms, such as Apple iOS and Google's Android operating systems, as well as on social networking sites, such as Facebook. It also provides advertising services comprising mobile and display ads, engagement ads and offers, and branded virtual items and sponsorships to advertising agencies and brokers; and licenses its own brands.
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